Honourable Financial Institutions,
To all financial institutions that are obliged to report on Law no. 05/L-013 on Ratification of the Agreement Between the Government of the Republic of Kosovo and the Government of the United States of America to Improve Compliance of Tax Regulations at the International Level and Implementing of FATCA Regulations (FATCA Agreement), we remind you to report for the calendar year 2018 before 30 September 2019.
According to Article 1(g) of the FATCA Agreement, liable are all financial institutions classified as:
- Custodian institutions
- Depository institutions
- Investment entities, and
- Designated tax company
As well as those that hold US reportable accounts.
Also, you are informed that automatic reporting began this year already through the application provided by the Tax Administration of Kosovo, which removed manual reporting and enabled the reduction of errors.
Tax Administration of Kosovo